EU investment in BOL.BG

The European investment fund CEE GROWTH LUXEMBOURG SICAR S.C.A has invested a significant amount of money in the Bulgarian Internet Service Provider BOL.BG
The investment shows the enlarging activity of the fund in Central and Eastern Europe. It’s a result of an in-depth analysys of the market, the influence and the possibilities for development of the ISPs in Bulgaria.

The plans of the company include further development of their high speed fiber-optic network, new services as VoIP, IPtv (Internet television), Video On Demand, and others. BOL will be looking for new people, and if you know someone who is interested in working in Bulgaria for a hi-tech company, please, mail Dragomir Tzankov – dragot @ bol.bg .

BOL will be also buying out other ISPs, and will form joint ventures with them. That will give other companies (both smaller and larger) to be part of a winning team.
At the moment, BOL has fiber-optic network, covering larger parts of the capital of Bulgaria, offering Internet access with speeds of up to 1000 Mbps for businesses and citizens. At the end of 2006 bol.bg signed an agreement with Premium Digital for legal distribution of movies over the Internet, using Video on Demand (BoD) technology, thus becoming the first company to provide 4-in-1 services (Internet, phone, digital tv, and VoD).

And why I am writing about it? For two reasons:
first, it’s important for the development of the Internet and the country as a whole, and
two, BOL was founded by me and Dimitar (Mitko) Ganchev in 1993 as CIT Ltd, and in 1997 after changing ownership, the name BOL.bg showed up (registered trade mark of CIT). Today it has more than 50 employees, 12 offices, and is among the leading Internet Service Providers of Bulgaria.

CEE GROWTH LUXEMBOURG SICAR S.C.A. is registered in Luxembourg, has Eur 40 M for investments in the South Eastern Europe. It’s managed by Slovenian managers, with experience in funding hundreds of companies throughout Europe.

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